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total revenue curve

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  • Total revenue test — In economics, the Total Revenue Test is a means for determining whether demand is elastic or inelastic. If an increase in price causes an increase in total revenue, then demand can be said to be inelastic, since the increase in price does not… …   Wikipedia

  • Cost curve — In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms use these curves to find the optimal point of production (minimising cost), and… …   Wikipedia

  • Marginal revenue — Typical marginal revenue and average revenue (price) curves for a firm that is not in perfect competition In microeconomics, marginal revenue (MR) is the extra revenue that an additional unit of product will bring. It is the additional income… …   Wikipedia

  • Tax revenue — is the income that is gained by governments because of taxation of the people.Just as there are different types of tax, the form in which tax revenue is collected also differs; furthermore, the agency that collects the tax may not be part of… …   Wikipedia

  • Marginal revenue productivity theory of wages — The marginal revenue productivity theory of wages, also referred to as the marginal revenue product of labor and the value of the marginal product or VMPL, is the change in total revenue earned by a firm that results from employing one more unit… …   Wikipedia

  • Monopoly — This article is about the economic term. For the board game, see Monopoly (game). For other uses, see Monopoly (disambiguation). Competition law Basic concepts …   Wikipedia

  • Profit maximization — In economics, profit maximization is the process by which a firm determines the price and output level that returns the greatest profit. There are several approaches to this problem. The total revenue total cost method relies on the fact that… …   Wikipedia

  • Break-even (economics) — This article is about Break even (economics). For other uses, see Break even (disambiguation). The Break Even Point In economics business, specifically cost accounting, the break even point (BEP) is the point at which cost or expenses and revenue …   Wikipedia

  • Break even analysis — The break even point for a product is the point where total revenue received equals the total costs associated with the sale of the product (TR=TC). [Horngren, C.,Sundem, G Stratton, W. Introduction to Management Accounting (2002) Prentice Hall]… …   Wikipedia

  • multiple breakeven points — Two or more activity levels at which an organization breaks even. They can occur on breakeven charts when the cost and revenue functions are not linear and the total cost curve and the total revenue curve cross each other more than once …   Accounting dictionary

  • Perfect competition — Economics …   Wikipedia

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